The Tories have come up with a new social-action campaign about debt. It has all the hallmarks of being the product of a coke-crazed ad exec’s inspired idea thought up after lunch in Soho. Guido is at a loss as to understand the thinking behind it. Are the Tories becoming a sort of posh version of the Salvation Army? The Tories de-regulated the credit market under Thatcher, now they are warning the poor about the perils of high interest rates?

The campaign website focuses on the “inner tosser” in us that gets us to whip out our credit cards in orgiastic consumerism. Guido is a fan of capitalism, the Tories used to be as well, credit is crucial to the productive allocation of capital and the creation of wealth. Nevertheless, “avoid getting into debt” is the stern Conservative party’s message. That is the same Conservative Party which is incidentally £27 million pounds in debt.

Is it just Guido or does the demonic personification of the inner tosser from the video bear a resemblance to Nigel Morris (pictured in the middle), the mega-rich co-founder of Capital One Financial Corporation, the firm which plagues our letterboxes with credit card offers targeting potential customers with “impaired debt histories”. The same tosser who “lent” Labour £1m?